Entertainment

Career Services Startup RiseSmart Announces $3M in Funding

RiseSmart, a Silicon Valley-based startup we've had our eye on for a couple years, has just announced a new round of funding: $3 million in equity financing for the expansion of its services into new geographic areas and the ongoing development of its technology.

Two years and a week ago, we discovered RiseSmart, a concierge-like service for executive job search that cost its members $43.95 per month.

Today, RiseSmart offers three main areas of service: Recruitment for companies in need of new talent, job search services for laid-off employees at RiseSmart client companies, and the ever-so-delicately phrased "identifing candidates for potential reassignment."

The latter product, called SmartRedeploy, is a solution for efficient layoffs; we think of it as the Bobs from Office Space in SaaS form.

This latest round of funding comes after a $7.6 million Series A (split between 2008 and 2009) from Norwest Venture Partners and Storm Ventures, both of which participated in the most recent round of funding; including angel investment, the company's total funding now comes to $11.85 million.

We can imagine that in the current economy, recruitment, retention and layoffs are equally big opportunities for the right company to build and grow a healthy business. And when you think about it, combining layoffs, job search and recruitment into one company is kind of a self-sustaining business model, like selling salted peanuts and bottled water.

We'll be keeping an eye on RiseSmart as it expands its business and services.

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